Surviving the Storm: 5 Financial Mistakes You Can’t Afford to Make 💸
By Shachem Lieuw | Story Time Productions
Hello, Storytime readers. It’s been a minute since I dropped some financial truth, but let’s get into it. I’m an expert at surviving. I’ve survived the Bouta era, economic collapses, a global pandemic, and a mountain of debt our politicians stacked up while we weren't looking.
Seriously, where did that $4 billion USD go? We were promised a train by May 2015 for the price of 1 SRD a ride. Instead of a train, we have crumbling roads and gas prices that make you want to weep—all thanks to the massive devaluation of the Surinamese Dollar. Since I started this blog, we’ve gone from $1 USD = 2.80 SRD to $1 USD = 24.50 SRD.
Growing up as a millennial in a constant state of national financial crisis teaches you things. My survival skills have been forged in the fire. But here is the silver lining: playing with your money teaches you who you are. Your spending habits are your lifestyle. Whether you are in Suriname or anywhere else, we’ve all been victims of bad leadership. We can’t control the government, but we can control our own habits.
If you want a secure future, you have to avoid these 5 rookie mistakes.
1. Not Knowing Where Every Cent Goes 🔍
This is a mistake I made for years. If you don't track your cents, you don't have a lifestyle—you have a leak.
When I finally started tracking, I realized 36% of my income was disappearing into junk food and snacks. It was a wake-up call to fix my health and my wallet. Everyone has a vice. Tracking your spending forces you to look at it. Use an app from the Play Store—log every single daily expense. At the end of the year, you’ll be shocked at how those small daily buys add up to a massive liability. Don't wing it blind.
2. Confusing Liabilities with Assets 🏠
If you want to build wealth, you must know the difference.
An Asset puts money in your pocket or holds its value (like real estate or a business).
A Liability takes money out of your pocket (debt, unnecessary subscriptions, or a car that just eats gas).
Divide your life into these two columns. Most people have zero assets and 100% liabilities. I even divide my liabilities into "Necessary" (housing, basic clothes) and "Unnecessary" (junk food, impulsive gadgets). Kill the unnecessary liabilities. Use that saved cash to buy assets that will eventually pay for the lifestyle you want.
3. Getting Hooked by Impulsive Deals 🎣
Marketing is designed to trigger your "buy now" reflex. That’s the point of a sale. But unless you’re sitting on a mountain of cash, impulsive buys are a trap.
Before you tap "buy" on those shoes or that gadget, ask: "Do I actually need this right now?" If the answer is no, ask: "How could this money be better spent as an investment?" There is a right time to spoil yourself, but that time is after you are financially secure, not before.
4. Being Too "Busy" to Find a Better Deal ⏱️
They say time is money, but being lazy with your time costs you money. In Suriname, the price of the same item can fluctuate wildly between supermarkets.
I once bought a scented candle for 100 SRD, only to find it for 20 SRD in the next shop over. Lesson learned. If you are on a budget, use your phone to research prices. Unless your time is literally worth more per hour than the money you'd save, do your homework. Don't let stores overcharge you just because you’re in a rush.
5. Ignoring the True Value of a Product 📉
Before you buy, research the item's durability and resale value.
The pandemic showed us how fragile everything is. People lost jobs and had zero safety net. If you can’t make the money back that you’re about to spend, think twice. Never get into debt for something that has no long-term value. Be prepared for the rainy day, because in this economy, it always rains eventually.
Final Thought
Stay safe, stay smart, and remember: financial independence is a basic right, but you have to fight for it with discipline.
If you want more raw advice on surviving and thriving in Suriname and beyond, subscribe to Storytime now! Don’t miss the next edition.
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